According to Yonhap News,

(SEOUL=Yonhap News) The Korea Trade-Investment Promotion Agency (KOTRA) announced July 20 that it signed a memorandum of understanding (MOU) for cooperation with Ecuador’s Ministry of Coordination of Production, Employment and Competitiveness (MCPEC) on July 19 in Quito, Ecuador to share experiences and knowhow related to trade and investment promotion. The MOU was signed by KOTRA CEO Jaehong Kim and MCPEC Minister Nathalie Cely Suárez.

The MOU is part of the knowledge sharing program (KSP) carried out by KOTRA for developing countries, including Cuba, four Russian Far East states, Thailand, Peru, Kenya and the South Pacific island community (16 countries including Fiji).

KOTRA has been expanding “Aid for Trade” through the KSP by strengthening the trade capacity of developing countries and promoting mutual cooperation between countries.

The MOU will strengthen trade between Korea and Ecuador to improve the trade balance, help Korea build a friendly network with the Ecuadorian government and encourage more Korean companies to enter the Ecuadorian market.

"The MOU will be an opportunity to promote shared growth through sharing KOTRA’s 50 years of trade and investment promotion experience. We will spare no effort in sharing about trade issues with Ecuadorian agencies and increasing economic cooperation," said Kim.

joon@yna.co.kr

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Source Text

Source: Yonhap News (Jul. 20, 2015)

** This article was translated from the Korean.